Yeah mate another $1900 cap job within an inside day.
Below is a daily junk bond chart. They're called junk bonds for a reason which means they have the worst grade as far as investment vehicles rate.
They are being gobbled up at a steepening curve and that shows the desperation for yield and rampant speculation to boot.
vv
Now below we have a daily on the US 10 year yield indicating a consolidated phase since mid March and a fairly steep drop off over the last few days.
Looking at a daily on gold below and the recent price action on both shows very little correlation and the US ten year yield connection to gold is certainly not a reliable indicator (to say the least) and is only used as camouflage in the same way the $US is used.
The bottom line here is (as you well know) that it doesn't matter how bullish the set up is, what counts is when these guys release their sell side algo's because they are the price setters. At the moment.
